mr. gutman: deeply appreciated. mr. serwer: i don't do vary formal introductions.lly, you have your bios, but it does not say that roy and i went to undergraduate school together. a vary small undergraduate school where we did not know each other. we first met in [indiscernible] i suppose it is less than 25 years ago. he is a sterling correspondent it's the only way to describe him and i am looking forward to hearing his views? i have some questions for him afterwards. but first, we will hear from joyce karam. much shorterfor a time than i know roy. but we see each other on the circuit. i always enjoy talking with her because she has such a keen appreciation for the nuances of what is really going on. i did not know, however, and i know from her bio that she has an ma in international peace and conflict resolution. -- conflictcon man management. [laughter] share thehat we interest in masters degree in conflict management. roy. thanks, dan. thank you for mentioning the old-school guy. i can imagine many people who were in your exalted position. first do two things t

mr. gutman: on the hard-liners they really are the losers in this whole deal. they are being disempowered. all the people, also, who have been engaged in smuggling -- this is probably pretty big lobby -- are going to be hurting. you have official trade, and they have no real role. we shouldn't underestimate the role of the hard-liners being dealt a bad hand, but we shouldn't overestimate the ability of the others to change things. it is a very dynamic discussion they have in iran. the nuclear deal -- there are issues that everybody understands have to be worked out. is the iranian government going to manage overseas operations of the revolutionary guard, or will it report to the supreme leader? how can you have these two parallel tracks? we know where the hard-liners come down on this decision. i would not expect any immediate answer. mr. serwer: let me conclude by noting that there is a solar lining of sorts. that is think about where we would be if iran were headed for a nuclear weapon. think about where we would be in two or three months from now iran could